Verigy swings to quarterly profit; updates outlook

KatherineHunt

SAN FRANCISCO (MarketWatch) -- Verigy Ltd.
vrgy
after Tuesday's closing bell reported fourth-quarter net earnings of $14 million, or 25 cents a share. During the same period a year ago, the Cupertino, Calif.-based semiconductor test company posted a net loss of $15 million, or 30 cents a share. Revenue surged to $202 million compared with $159 million last year. The results included $17 million in charges related to Verigy's spinoff from Agilent Technologies Inc.
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Excluding the charges related to the spinoff, among other items, earnings were $33 million, or 56 cents a share. Analysts polled by Thomson First Call had forecast fourth-quarter earnings of 19 cents a share on revenue of $192 million. Additionally, Verigy said it expects first-quarter per-share earnings of 16 cents to 21 cents, or 22 cents to 27 cents on a pro forma basis, on revenue of $150 million to $160 million. Analysts are currently looking for earnings of 33 cents a share on revenue of $177 million for the quarter.

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